Foodbuy Europe has bought leading hospitality procurement consultancy, Regency Purchasing Group, which is based in Weston-Super-Mare.
The acquired company operates in the hospitality and leisure market with a strong national footprint. It provides purchasing and operations solutions to over 5,000 sites ranging from independent sites to large groups.
Regency Purchasing Group commits to creating a leaner and smarter cost base through its purchasing solutions, as well as being able to share its experience to improve operational efficiency.
From boosting pricing power, to maximising supplier relationships, this latest acquisition will allow both businesses to continue to help businesses maintain financial discipline without comprising on quality.
Both Foodbuy and Regency Purchasing Group share a partnership approach to the way in which they operate, meaning the acquisition of Regency Purchasing Group will allow both businesses to continue to strive to maximise savings, improve quality and identify new ways of bringing innovation to their clients.
Regency Purchasing Group’s Senior Management Team will stay in place with the founder Alex Demetriou continuing to lead and develop the business over the coming years. The business will continue to operate under the Regency Purchasing Group brand.
Karl Atkins, Managing Director for Foodbuy, said, “Regency Purchasing Group is a brilliant company with robust supplier and client relationships, evidenced through its strong retention rates.
'It empowers independent and family-owned businesses to compete with national brands and has extensive regional coverage which will mean Foodbuy can continue to offer agility and supplier flexibility through its supply chain models.
'I am excited to explore how Regency Purchasing Group’s self-developed systems can continue to enhance our system offering to suit individual client needs, as well as bringing together our purchasing power to buy and operate smarter for our clients.
'I look forward to welcoming Regency Purchasing Group and getting to know the team,” Karl closed.
Alex Demetriou, Founder of Regency Purchasing Group, (pictured), added, “We are delighted to be working with the team at Foodbuy, whose values are closely aligned with ours.
'At a time of such volatility in the marketplace, our ability to combine purchasing volumes and drive supply chain efficiencies and savings for our customers has never been more important.
'We very much look forward to continuing to work with our management team and taking the best of what Foodbuy are able to offer and support us with.'
Alex concluded, 'The creation of this joint partnership, whilst maintaining the Regency way of working, is a very exciting proposition as we go into the New Year.”